Yoffe Investment Management LLC Acquires Shares of 11,132 Paramount Global (NASDAQ:PARA)

Yoffe Investment Management LLC bought a new position in Paramount Global (NASDAQ:PARA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,132 shares of the company’s stock, valued at approximately $116,000.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its position in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global in the fourth quarter valued at about $31,000. Rakuten Securities Inc. lifted its position in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after buying an additional 2,019 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Paramount Global during the 4th quarter worth about $35,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Paramount Global in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.07 on Friday. The stock’s fifty day simple moving average is $11.38 and its 200 day simple moving average is $10.93. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $7.38 billion, a PE ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.60. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. On average, research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Analyst Upgrades and Downgrades

PARA has been the topic of several research analyst reports. Guggenheim reissued a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Wednesday. StockNews.com assumed coverage on Paramount Global in a research note on Sunday, March 30th. They set a “hold” rating on the stock. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.09.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.